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THURSDAY, APRIL 18, 1985
+HE WILL EXAMINE AND AUDIT THESE ACCOUNTS, PREPARE A REPORT THEREON AND SUBMIT IT TO YOU, SIR, AS PRESIDENT OF THE LEGISLATIVE COUNCIL TOGETHER WITH A COPY OF THE ACCOUNTS, DULY CERTIFIED BY HIM.
+THE BILL IS TO COME INTO OPERATION WHEN THE JOINT DECLARATION ENTERS INTO FORCE, SIR JOHN SAID.
DEBATE ON THE BILL WAS ADJOURNED.
CODE FOR +CONTENTIOUS ISSUE+ PROPOSED
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UNOFFICIAL MEMBERS OF THE LEGISLATIVE COUNCIL HAD SUGGESTED THROUGH THE ADMINISTRATION TO THE COUNCIL OF THE HONG KONG SOCIETY OF ACCOUNTANTS THAT THE CONTENTIOUS+ ISSUE OF RESIDENTIAL REQUIREMENTS FOR ALL AUDITORS MIGHT BE BEST HANDLED BY MEANS OF A CODE OF PRACTICE ISSUED BY THE SOCIETY, THE HON W.C.L. BROWN SAID AT THE RESUMED DEBATE ON THE PROFESSIONAL ACCOUNTANTS (AMENDMENT) BILL 1984.
+WITH THIS, WE ARE CONVINCED THAT THE INTEGRITY OF OUR COMMERCIAL ACTIVITIES IN HONG KONG WILL BE UPHELD IN WHAT IS PROBABLY A MORE APPROPRIATE WAY FOR A BODY OF PROFESSIONALS, + HE SAID.
HE NOTED THAT WHEN THE BILL WAS INTRODUCED ITS MAIN PURPOSE APPEARED TO BE NO MORE THAN A STRAIGHTFORWARD, REASONABLE PROPOSAL TO TIGHTEN UP ON THE RESIDENTIAL REQUIREMENTS FOR AUDITORS - IN SIMPLE TERMS TO ENSURE THAT THOSE SIGNING CERTIFICATES WERE PHYSICALLY IN HONG KONG TO SUPERVISE THE WORK IN THEIR OFFICES AND RENDER EXPERT ADVICE TO THEIR CLIENTS.
+THE BILL HAD THE STRONG SUPPORT OF THE COUNCIL OF THE HONG KONG SOCIETY OF ACCOUNTANTS, BUT NOT UNFORTUNATELY OF ALL AUDITORS.
+NO ONE SEEMS TO OBJECT TO THE PRINCIPLE OF A RESIDENTIAL REQUIREMENT, BUT TO DO SO BY LEGISLATION AS OPPOSED TO THE INTERNAL RULES OF THE HONG KONG SOCIETY OF ACCOUNTANTS - SEEMS TO RAISE OBJECTIONS, TO PUT IT MILDLY, OF THOSE WHO BELIEVE THIS BILL, BY REMOVING CERTAIN VESTED RIGHTS BY LAW, WOULD BE AT LEAST INEQUITABLE, AND AT WORST SERIOUSLY WEAKEN THE COMMUNITY'S FAITH IN OUR LEGAL FRAMEWORK AND THE RULE OF LAW,+ HE SAID.
/MR BROWN